Small Business Investment Grant (RFP #23-02)

Funder: Washington State Department of Commerce • Community Reinvestment Project

Geographic Scope: King County, Washington

Focus Areas:

• Capacity building and growth
• Sustainability efforts (environmental, financial, and social impact)
• Hiring (especially to enhance workforce diversity)
• Retention and staff training

Objective: Rectify disproportionate impacts of historical criminal laws and penalties associated with the War on Drugs. Promote equity for businesses with focus on those 51% or more owned/operated by Black, urban Indian/Tribal, and Latine communities.

Eligibility

• Small businesses and nonprofits (50 or fewer employees)
• Located in King County
• Priority: 51% or more owned/operated by individuals from Black, urban Indian/Tribal, and Latine communities
• Other eligible populations: Refugees, immigrants, or other racially/ethnically marginalized communities
• No minimum or maximum revenue requirements
• Valid business license required

What Grant Funds Can Support

• Capacity building and growth initiatives
• Sustainability improvements (environmental, financial, social)
• Hiring and workforce diversity enhancement
• Employee retention and development
• Staff training programs
• Equipment purchases (if connected to focus areas)
• Capital improvements (renovations, installations, etc.)
• Admin costs and overhead

What They Don't Fund

• Working capital
• Land and building acquisition
• Relieving existing debt

Award Details

• Maximum Request: $15,000 per application
• Number of Awards: 40 grants awarded
• Additional Support: Awardees receive coaching, consulting, and/or resource connections in addition to financial support
• Data/Reporting: Awardees share impact data (surveys, interviews, success stories)

Past Applicants

• Over 450 applications received
• 40 small businesses and nonprofits selected (predominantly Black, urban Indian/Tribal, and Latine-owned)

Contact

Address: 450 Alaskan Way S, Seattle, WA 98104

Application Process (CLOSED - Historical Information)

Timeline (from 2024 cycle):

• Application Opens: June 10, 2024
• Application Assistance Calls: June 18, 2024 & July 1, 2024
• Last Day to Submit Questions: July 7, 2024
• Applications Due: July 14, 2024 by 11:59 PM PDT
• Award Notification: First week in September 2024
• All Applicants Notified: September 13, 2024
• Anticipated Fund Availability: Mid-September 2024 (or later if additional documentation needed)

Required Documentation

• Basic organizational information
• Description of proposed activities
• Budget detailing fund use
• Valid business license
• IRS Form W-9
• Budget document template
• State/Local Tribal documents accepted
• Any additional documentation relevant to proposed project

Application Content

• Organizational overview
• Proposed activities and how they align with grant priorities
• Detailed budget with narrative
• Evidence of ownership representation
• Community and workforce benefit demonstration
• Impact and sustainability plans

Evaluation Criteria

• Ownership representation
• Alignment with grant purpose
• Impact and sustainability
• Community and workforce benefit
• Completeness of application and required documentation

Application Assistance Available

• Two webinar sessions offered
• Support for accommodations and special needs
• Contact: athornton-west@seakingwdc.org

Post-Award Requirements (for Awardees)

• Planned and actual budget with accompanying narratives
• Receipts/proof funds used for stated purposes
• Participation in coaching, consulting, and resource connection supports
• Data collection on impact (surveys, interviews, success stories)
• Compliance with all contractual obligations

Important Notes

• Incomplete applications without required documentation not scored
• Applicants notified of incomplete status and provided opportunity to submit missing information
• Applications scored based on criteria outlined in scoring guide
• Funds issued via ACH to business
• Awardees engaged in holistic support beyond financial assistance